State of Michigan Retirement System Sells 200 Shares of Trane Technologies plc (NYSE:TT)

State of Michigan Retirement System lowered its stake in shares of Trane Technologies plc (NYSE:TT) by 0.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,313 shares of the company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Trane Technologies were worth $18,706,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TT. Norges Bank acquired a new position in Trane Technologies in the 4th quarter valued at approximately $655,804,000. International Assets Investment Management LLC boosted its stake in Trane Technologies by 24,670.7% in the 4th quarter. International Assets Investment Management LLC now owns 1,034,423 shares of the company’s stock valued at $252,296,000 after buying an additional 1,030,247 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Trane Technologies by 5.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,085,662 shares of the company’s stock worth $3,466,852,000 after purchasing an additional 880,583 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Trane Technologies by 719.8% in the fourth quarter. TD Asset Management Inc now owns 750,894 shares of the company’s stock valued at $183,143,000 after acquiring an additional 659,299 shares during the last quarter. Finally, Putnam Investments LLC raised its position in Trane Technologies by 27,824.4% in the 4th quarter. Putnam Investments LLC now owns 572,730 shares of the company’s stock valued at $139,689,000 after purchasing an additional 570,679 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Insider Transactions at Trane Technologies

In other news, CFO Christopher J. Kuehn sold 4,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares of the company’s stock, valued at approximately $19,532,240.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Trane Technologies news, CFO Christopher J. Kuehn sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $318.67, for a total transaction of $1,274,680.00. Following the transaction, the chief financial officer now owns 61,293 shares in the company, valued at $19,532,240.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Evan M. Turtz sold 8,988 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $321.30, for a total transaction of $2,887,844.40. Following the completion of the transaction, the senior vice president now directly owns 20,758 shares in the company, valued at approximately $6,669,545.40. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Trane Technologies Trading Up 1.1 %

NYSE TT opened at $324.83 on Wednesday. Trane Technologies plc has a 12 month low of $184.02 and a 12 month high of $345.46. The company has a current ratio of 1.13, a quick ratio of 0.74 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $73.53 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 2.55 and a beta of 1.01. The business’s 50-day moving average price is $326.45 and its two-hundred day moving average price is $291.61.

Trane Technologies (NYSE:TT) last released its earnings results on Tuesday, April 30th. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.30. The business had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.99 billion. Trane Technologies had a net margin of 11.81% and a return on equity of 32.78%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, analysts expect that Trane Technologies plc will post 10.48 EPS for the current year.

Trane Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.36 dividend on an annualized basis and a yield of 1.03%. Trane Technologies’s payout ratio is currently 35.90%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Trane Technologies from $281.00 to $295.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Barclays boosted their price target on shares of Trane Technologies from $354.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. TD Cowen upped their price objective on Trane Technologies from $325.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Robert W. Baird raised their target price on Trane Technologies from $315.00 to $344.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Mizuho upped their price target on Trane Technologies from $280.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Trane Technologies presently has an average rating of “Hold” and an average target price of $309.79.

Trane Technologies Company Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.